Bennett Selby Investments LP Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Bennett Selby Investments LP trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,405 shares of the coffee company’s stock after selling 437 shares during the quarter. Starbucks comprises about 1.5% of Bennett Selby Investments LP’s investment portfolio, making the stock its 14th biggest position. Bennett Selby Investments LP’s holdings in Starbucks were worth $3,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its position in shares of Starbucks by 73.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock valued at $3,397,000 after purchasing an additional 18,420 shares during the last quarter. Fred Alger Management LLC increased its position in Starbucks by 3.7% during the second quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock valued at $3,320,000 after acquiring an additional 1,503 shares during the last quarter. Daymark Wealth Partners LLC raised its stake in shares of Starbucks by 21.8% in the second quarter. Daymark Wealth Partners LLC now owns 14,254 shares of the coffee company’s stock valued at $1,110,000 after acquiring an additional 2,552 shares during the period. MBB Public Markets I LLC lifted its holdings in shares of Starbucks by 2,424.2% in the 2nd quarter. MBB Public Markets I LLC now owns 80,346 shares of the coffee company’s stock worth $6,255,000 after acquiring an additional 77,163 shares during the last quarter. Finally, Maverick Capital Ltd. grew its holdings in Starbucks by 142.8% during the 2nd quarter. Maverick Capital Ltd. now owns 1,425,353 shares of the coffee company’s stock valued at $110,964,000 after purchasing an additional 838,195 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. UBS Group lifted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Stock Performance

Starbucks stock opened at $98.81 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company has a market cap of $112.03 billion, a PE ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99. The business’s 50-day simple moving average is $95.65 and its two-hundred day simple moving average is $92.08.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. As a group, analysts predict that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.